• There is a R30 000 annual contribution limit and a R500 000 lifetime contribution limit.
• Selected Exchange Traded Funds (ETFs) are suitable.
• Profits made in the TFSA account do not contribute to existing tax annual limits (interest and capital gains), and may be re-invested in the TFSA account without utilising the contribution limit, provided they are not withdrawn.
• There are penalties for exceeding the R30 000 annual contribution limit.